The Venmo-style service uses the credit or debit cards you already have in Apple Pay. When you receive money, it’s then added to an Apple Pay Cash card in the Wallet app. You can then use it to make purchases online and in stores or pay someone back, or you can transfer the money to your bank account.

To use the service, iOS device owners will need to update to iOS 11.2. Restart your device if you’d already installed the update. Apple Watch users will need to update to watchOS 4.2.